Elsewedy Electric plans to complete the feasibility study for establishing a coal-fired power station, in cooperation with the Japanese company Marubeni, in December. The company is preparing to present a technical and financial offer to the Ministry of Electricity next year.
CEO of Elsewedy Electric Group Ahmed Elsewedy said that his company signed a memorandum of understanding (MOU) with Marubeni in March to establish a coal-fired power station in western Matrouh governorate on the Mediterranean coast.
The total cost of the project will be announced after completing the feasibility study, he added, noting that there are no problems facing the project’s funding. The company is keen to contribute to developing the energy sector in Egypt and intends to apply for a number of major projects not only in the field of generating, transmitting, and distributing electricity, but also in various infrastructure and utilities sectors, according to Elsewedy.
The power plant will be established over two phases. Each phase will put out 2,000 MW in capacity, in addition to desalinating 360,000 cubic metres per day from seawater and handling the storage and shipments of coal works.
According Elsewedy, the company’s work includes designing, supplying and installing all sub and complementary systems, besides constructing and installing boilers and turbines. The company will be responsible for site preparation, civil works, and facilities required for the project.
Elsewedy Group is in the same boat as other companies. It is suffering from the dollar shortage that hit the market. The worsening problem may challenge the group’s establishments and projects, as the company imports its requirements for plastic and copper. The company exports 60% of its production abroad and aims to increase this to 80% by next year.
Elsewedy said the state is keen to solve the energy problems and add new capabilities before the summer. The actions taken by the government over the past year to facilitate investment in energy are fundamental pillars in resolving the problem decisively and quickly.
The company has 14 factories in Egypt, in which training employees is a main task. The company owns Elsewedy School, an academy for engineers’ education, works on projects related to health, and creates new jobs opportunities.